Armenia's ECOS Free Economic Zone Boosts Crypto Mining Capacity with 60 MW Expansion

Armenia's ECOS Free Economic Zone Expands Crypto Mining Capacity

In a significant move for the global cryptocurrency mining industry, Armenia's ECOS Free Economic Zone has announced the addition of 60 megawatts (MW) of capacity to its power plant-based mining facility. This expansion underscores the region's growing role in the crypto space, particularly through sustainable practices.

A Strategic Location for Clean Energy Mining

The ECOS mining facility, operational since 2018, is strategically situated at a hydroelectric plant on the Hrazdan river. This location provides direct access to high-voltage electricity, enabling efficient and cost-effective mining operations. The facility utilizes the site's existing infrastructure to power its containers, ensuring a seamless and scalable setup.

Potential for Further Growth

Representatives from ECOS have highlighted the potential for further expansion, with plans to increase capacity by an additional 200 MW of clean electricity. This ambitious goal positions Armenia as a key player in the global crypto mining landscape, offering a sustainable alternative to traditional energy sources.

Comparing Capacities Across the Globe

To put this expansion into perspective, the Berlin Geothermal plant in El Salvador allocates 1.5 MW of its 102 MW production to crypto mining, while the Greenidge Generation plant in New York produces approximately 44 MW. ECOS's current 60 MW addition and potential 200 MW expansion highlight the significant scale of Armenia's contribution to the industry.

This development not only strengthens Armenia's position in the global crypto market but also emphasizes the importance of sustainable energy sources in powering the future of cryptocurrency mining.